In my practice, I am regularly asked many questions about completing a Health Care Directive: Who should I name as my health care agent? Can I name all __ (pick a number) of my kids? What if my agent lives out of state? What if my wishes change regarding the instructions listed? What if technological […]
One consistent goal of estate planning clients who have children is to ensure financial stability for their children in the event that both parents die. These same parents often recognize that their children may not be mature enough to manage assets in a responsible way. To address this issue, trusts are created to ensure that […]
In a previous post, I discussed the circumstances under which a surviving spouse could be completely disinherited by the decedent spouse. There are other circumstances where the surviving spouse can elect for a specific share of the decedent spouse’s testate or intestate estate that the spouse would not otherwise be entitled to, but for the election. This […]
Clients can become confused and overwhelmed by the various roles and individuals named in their estate plan. In a previous post, I outlined the traditional key players in a typical estate plan. However, guardians, conservators and custodians are three roles that can come into play when an individual has not properly planned and therefore, clients […]
February 8, 1925 – June 27, 2001 It has been 10 years since Hollywood and movie fans lost Jack Lemmon. Mr. Lemmon was both a dramatic and comedic actor. He was born in an elevator [1], a graduate of Harvard and a close friend of Walter Matthau’s with whom he co-starred in eight films. It […]
Growing older is a fact of life, but how and where we age is a matter of personal choice. Whether you are a member of Gen Y, Gen X, the Baby Boom, or the Silent Generation, you have an opportunity to define the next years of your life on your own terms. But it’s an […]
Pop star Britney Spears found herself in the news again last week, when the story broke that the 29-year old singer’s father will remain her conservator for the remainder of the year. Three years ago, Spears became subject to a court-ordered conservatorship and guardianship when she had several public meltdowns and was ultimately placed on […]
No, this is not about purchasing life insurance or finding the best policy. We leave that to the insurance experts. This article is a simple reminder to keep your policy information with the rest of your estate planning documents. The reason: You want your personal representative or your trustee to know about your policies after […]
Employer: Ginkel & Gallagher Position: Attorney Location: Woodbury Education: JD, Hamline University School of Law; BA, University of St. Thomas Questions How long have you been practicing? I have been practicing in the area of estate planning since 2006, and as an attorney since 2004. I previously worked at a large Minneapolis law firm focused […]
We discuss often here at Epilawg about the importance of having an estate plan in place prior to your death. However, we all know that many die without a will, or intestate, thereby causing state statutes to decide who will receive property and assets of the intestate estate. In other words, the state will decide which family […]
We often talk about new parents needing an estate plan to ensure they have guardians appointed for their minor children (see the recent article Appointing a Guardian for Minor Children). However, older parents with adult children should also be encouraged to have an estate plan in place. We find that most individuals truly understand the […]